PPP Loan Data — Manalapan Driving School-Sba Small 7A Term, Freehold, NV
Manalapan Driving School-Sba Small 7A Term is a corporation located at 190 South Street in Freehold, Nevada that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Manalapan Driving School-Sba Small 7A Term in Freehold, NV received a Paycheck Protection Loan of $25,000 through TD Bank, National Association, which was approved in May, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Manalapan Driving School-Sba Small 7A Term's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Manalapan Driving School-Sba Small 7A Term reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Manalapan Driving School-Sba Small 7A Term in Freehold, NV
190 South Street
Freehold, NV 7728
Automobile Driving Schools
NAICS code 611692
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,039 businesses in the "Automobile Driving Schools" industry received a total of $104.17M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 7 employees, 75% higher than Manalapan Driving School-Sba Small 7A Term's reported 4 employees, and received an average PPP loan of $34,277, 37% higher than this company's loan of $25,000.
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Footnotes & Information
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